MtPredictor signals a profitable long trade on the DAX

MTPredictor signaled a profitable long trade on the DAX yesterday (Monday) on the 3 minute chart.

The MTPredictor trading system found an ABC low made within a larger degree uptrend and categorised this as a TS3 trade entry signal and then automatically calculated the position size and risk reward ratios, as you can see on the chart (click to enlarge).

The TS3 setup is one of four automatic trade setups and indicates a simple ABC correction. This is part of the isolation approach to Elliott wave analysis and trade identification that is unique to MTPredictor.

As you can see from the chart, the trade went on to make a 5R profit, which made an excellent start to the week.